Civeo (NYSE:CVEO) Upgraded at StockNews.com

Civeo (NYSE:CVEO) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Civeo Stock Up 1.2 %

Shares of NYSE:CVEO opened at $21.69 on Friday. The company has a 50-day moving average price of $24.93 and a 200 day moving average price of $25.67. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Civeo has a 12 month low of $21.15 and a 12 month high of $28.92. The company has a market cap of $298.74 million, a price-to-earnings ratio of 15.49 and a beta of 2.03.

Civeo (NYSE:CVEO) last announced its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $176.34 million during the quarter, compared to analysts’ expectations of $172.59 million. During the same quarter last year, the firm posted $0.61 EPS. As a group, equities research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

Institutional investors and hedge funds have recently modified their holdings of the business. Meros Investment Management LP bought a new position in Civeo in the 3rd quarter valued at $2,332,000. XTX Topco Ltd bought a new position in shares of Civeo in the third quarter worth about $231,000. State Street Corp purchased a new position in Civeo in the 3rd quarter worth about $222,000. Quantbot Technologies LP bought a new stake in Civeo during the 3rd quarter valued at about $68,000. Finally, FMR LLC boosted its position in Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after buying an additional 50,400 shares during the period. 81.44% of the stock is owned by institutional investors.

About Civeo

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.